Oil prices peaked in the beginning of the year

The world price of oil rose to its highest level since the beginning of the year, according to the auction on the London and new York stock exchanges.

Thus, the June futures for light oil brand WTI rose by 0.55%, to 49,60 USD per barrel. Futures for Brent crude with delivery in July rose by 1.08%, to 50.23 per barrel.

“Traders are awaiting the meeting of OPEC, held in Vienna on 2 June. Most analysts do not expect any changes in the volume of production of oil by the end of this meeting”, writes Prime.

On the other hand, investors believe that the price of oil will continue to grow as the global economy improves, as the demand for “black gold”.

“The global economy is improving, and growth in oil demand was better than expected,” reported The Wall Street Journal, the head of research at securities firms International Guotai Junan grace Liu.

According to her, low oil prices do not allow many companies-producers to increase production. “We see that the balance of supply and demand in the oil market has already begun to change from the second quarter,” said Liu.

As reported Корреспондент.neton the eve of Russia said that the theme of frozen in oil prices is no longer relevant, as the raw material continues to rise.